Citrix Systems, Inc. reported unaudited consolidated earnings results for the fourth quarter and fiscal year ended December 31, 2015. For the fourth quarter of fiscal year 2015, the company achieved revenue of $905 million, compared to $851 million in the fourth quarter of fiscal year 2014, representing 6%revenue growth. Net income for the fourth quarter of fiscal year 2015 was $131 million, or $0.84 per diluted share, compared to $95 million, or $0.58 per diluted share, for the fourth quarter of fiscal year 2014. Net income for the fourth quarter of fiscal year 2015 includes impairment charges of $58 million related to certain intangible assets, which are included in amortization of product related and other intangible assets. Non-GAAP net income for the fourth quarter of fiscal year 2015 was $259 million, or $1.66 per diluted share, compared to $180 million, or $1.10 per diluted share for the fourth quarter of fiscal year 2014. Non-GAAP net income for the fourth quarter of fiscal year 2015 includes net tax benefits of $25 million, or $0.16 per diluted share. Cash flow from operations was $282 million for the fourth quarter of fiscal year 2015, compared with $190 million for the fourth quarter of fiscal year 2014. Income from operations was $112,406,000 against $117,408,000 a year ago. Income before income taxes was $112,195,000 against $107,701,000 a year ago.

For fiscal year 2015, the company reported annual revenue of $3.28 billion, compared to $3.14 billion for fiscal year 2014, a 4% increase. Annual net income for fiscal year 2015 was $319 million, or $1.99 per diluted share, compared to $252 million, or $1.47 per diluted share for fiscal year 2014. Annual net income for fiscal year 2015 includes impairment charges of $123 million related to certain intangible assets, which are included in amortization of product related and other intangible assets. Annual non-GAAP net income for fiscal year 2015 was $695 million, or $4.34 per diluted share, compared to $565 million, or $3.30 per diluted share for fiscal year 2014. Annual non-GAAP net income for fiscal year 2015 includes net tax benefits of $21 million, or $0.12 per diluted share. Cash flow from operations was $1.03 billion for fiscal year 2015 compared with $846 million for fiscal year 2014. Income from operations was $350,085,000 against $302,311,000 a year ago. Income before income taxes was $311,877,000 against $275,706,000 a year ago.

The management expects to achieve the following results at the consolidated level for the first quarter of fiscal year 2016 ending March 31, 2016: net revenue is targeted to be in the range of $785 million to $790 million. GAAP diluted earnings per share is targeted to be in the range of $0.28 to $0.31. Non-GAAP diluted earnings per share is targeted to be in the range of $0.91 to $0.93, excluding $0.31 related to the effects of stock-based compensation expenses, $0.14 related to the effects of amortization of acquired intangible assets, $0.15 related to restructuring charges, $0.05 related to the effects of amortization of debt discount, $0.17 related to separation costs associated with the previously announced spin-off of the GoTo business and $0.17 to $0.22 for the tax effects related to these items.

The management expects to achieve the following results at the consolidated level for the fiscal year ending December 31, 2016: net revenue is targeted to be in the range of $3.31 billion to $3.32 billion. GAAP diluted earnings per share is targeted to be in the range of $2.50 to $2.60. Non-GAAP diluted earnings per share is targeted to be in the range of $4.65 to $4.75, excluding $1.27 related to the effects of stock-based compensation expenses, $0.53 related to the effects of amortization of acquired intangible assets, $0.19 related to restructuring charges, $0.21 related to the effects of amortization of debt discount, $0.71 related to separation costs associated with the previously announced spin-off of the GoTo business and $0.66 to $0.86 for the tax effects related to these items.